by Kipp Gillian | May 10, 2022 | Multifamily
The properties, in Texas and Arizona, amount to 2,549 units. JLL worked on behalf of the borrower, Wealhouse Capital, who secured the floating-rate Fannie Mae loans. The properties were at least 25 years old. Wealhouse’s Emily Newman says the loan will allow...
by Kipp Gillian | May 10, 2022 | Multifamily
Before putting the three properties on the market, Three Pillars performed a number of renovations. Included in the revamp were heavy interior renovations that installed vinyl plank floors, granite counters in the kitchen and bathroom, updated appliances, faucets and...
by Kipp Gillian | May 10, 2022 | Office
Houston Research Institute and Houston Medical Imaging will collectively take over 19,000 square feet of the Energy Corridor complex. They should be moved in by August 2022. The two new tenants will join engineering consulting firm Smith Seckman Reid, who leased...
by Kipp Gillian | May 10, 2022 | Office
Matthew Seliger will represent owners and and landlords in the leasing and sales of office properties. His title will be Vice President of Office Leasing. Seliger last position was with Transwestern where he was engaged in marketing, business development and office...
by Kipp Gillian | May 10, 2022 | Multifamily
TruAmerica Multifamily bought a 230-unit project located seven miles outside Austin. Built in 2003, the company plans to immediately begin a multi-million dollar improvement plan on the Cannon Oaks community. The project at 2302 E. William Cannon Dr. features a mix of...
by Kipp Gillian | May 10, 2022 | Multifamily
Rosewood Property Company has started construction on a new multifamily development at the Heritage Creekside mixed use development. Rosewood expects a move-in date of 2024. Located at 601 Belpree Drive, the community will consist of 326 apartment units on four...
by Kipp Gillian | May 10, 2022 | Industrial
NAI Partners arranged two 40,050 square foot industrial leases for Killam Development at Sharyland Business Park in McAllen. The leases are with TCA Logistics and Buckeye Corrugated Inc. NAI Partners Carlos Marquez represented the landlord. Both tenants were...
by Kipp Gillian | May 10, 2022 | Industrial
Logistics real estate giant Prologis has apparently been trying to buy Indianapolis-based Duke Realty in an effort to build a huge warehouse REIT since November of last year, and on May 3 Duke rejected an offer by Prologis. Prologis, in a highly unusual move, on...
by Kipp Gillian | May 10, 2022 | Office
Raleigh, NC-based Highwoods Properties, Inc., has agreed to acquire 650 South Tryon at Legacy Union in Charlotte’s Uptown submarket for a total expected investment of $203 million, including $3.9 million of anticipated leasing capital expenditures to bring the...
by Kipp Gillian | May 10, 2022 | Multifamily
Vienna, VA-based Middleburg Communities has disposed of Vesta Camp Creek, a 220-unit apartment community on Welcome All Road in Atlanta, GA. Travis Presnell, Mike Kemether, Wesley Lacefield and Wesley Kenney of Cushman & Wakefield for represented Middleburg in the...
by Kipp Gillian | May 10, 2022 | Industrial
Boston MA-based Bain Capital has partnered with Barber Partners, LLC, on the formation of a national programmatic joint venture to develop 15 Class A cold storage warehouses under the Chill Storage brand. The JV launches with the objective of deploying $500 million...
by Kipp Gillian | May 10, 2022 | Office
Following nearly two years of work-from-home, Warner Music Nashville and Warner Chappell Music Nashville have welcomed employees, artists and songwriters into renovated headquarters buildings on historic Music Row in Nashville. Together the two buildings span 52,000...
by Kipp Gillian | May 10, 2022 | Office
SVN | Parsons Commercial Group | Boston has completed the sale of a 17,000-square-foot mixed-use building at 615 Boston Post Road in Sudbury, MA to VTT Holdings, LLC, for $2.3 million. Jake Parsons of SVN | Parsons Commercial Group | Boston represented the seller,...
by Kipp Gillian | May 10, 2022 | Multifamily
Rosewood Realty Group has arranged the $71-million ($281,000 per unit) sale of Lakes at Collier Commons, a 252-unit multi-family property 30 minutes north of Tampa in Land O’ Lakes, FL. The 2004-constructed consists of 10 buildings along with pool, fitness center,...
by Kipp Gillian | May 10, 2022 | Multifamily
Vienna, VA-based Middleburg Communities has disposed of Vesta Camp Creek, a 220-unit apartment community on Welcome All Road in Atlanta, GA. Travis Presnell, Mike Kemether, Wesley Lacefield and Wesley Kenney of Cushman & Wakefield for represented Middleburg in the...
by Kipp Gillian | May 9, 2022 | Multifamily
Matt Wurtzebach, SVP with Draper and Kramer’s Commercial Finance Group (CFG), led a team in arranging $114 million in construction and refinance loans on behalf of client Tandem Development for two mixed-use properties in Chicago’s West Loop and River West. The team...
by Kipp Gillian | May 9, 2022 | Multifamily
A new construction multifamily property in Chicago’s South Side Hyde Park neighborhood has been sold for $12 million, according to Interra Realty managing partner Brad Feldman, who brokered the transaction. The new property at 5055 S. Dorchester has 34 units,...
by Kipp Gillian | May 9, 2022 | Industrial
Mag Mile Capital’s Cody Harper, VP of originations, has secured a $1,150,000 permanent loan financing in connection with an owner-occupied industrial/warehouse property located at 5115 Church St. in Skokie, IL. The 30,500 square foot property is 90% leased to House of...
by Kipp Gillian | May 9, 2022 | Industrial
Avison Young negotiated a five-year lease for 99,683 square feet of industrial space on behalf of tenant Stonebrooke Equipment, Inc. at 15100 Business Pkwy. in Rosemount, MN. The firm’s Doug Fulton, Rob Youngquist and Andi Simon represented the tenant; Cushman &...
by Kipp Gillian | May 9, 2022 | Multifamily
Parkview Financial provided a $207-million loan toward the purchase and redevelopment of the Hudson Hotel in Midtown Manhattan. The 24-story building at 353-366 W. 58th St. was most recently an SBE-operated hotel owned by Cain International, which shuttered in 2020...
by Kipp Gillian | May 9, 2022 | Office
Josh Berger, managing director at Norman Bobrow & Co., has been promoted to VP of the independently-owned tenant-rep commercial brokerage firm. In his new position, Berger will help oversee the brokers in the firm to drive higher revenues and transaction...
by Kipp Gillian | May 9, 2022 | Office
GFP Real Estate has closed on an $87,000,000 loan from Apple Bank to refinance 520 Eighth Ave., a 26-story, 860,000-square-foot office property in Midtown Manhattan. The 10-year, 3.524% fixed-rate loan matures in 2032 and is interest-only for the first...
by Kipp Gillian | May 9, 2022 | Office
Cushman & Wakefield arranged four leases totaling 46,342 square feet at The Grand, an office building campus located at 300 Interpace Pkwy. and One Upper Pond Rd. in Parsippany, NJ. The firm’s William O’Keefe, Charles Parmelli, Bill Brown and Joseph Ratner...
by Kipp Gillian | May 9, 2022 | Office
The red-hot industrial market is starting to see the effects of high demand and lack of space catching up with each other, according to SIOR’s latest Snapshot Sentiment Report. This caused confidence in the industrial sector to drop for the first time in sentiment...
by Kipp Gillian | May 9, 2022 | Industrial
The red-hot industrial market is starting to see the effects of high demand and lack of space catching up with each other, according to SIOR’s latest Snapshot Sentiment Report. This caused confidence in the industrial sector to drop for the first time in sentiment...
by Kipp Gillian | May 9, 2022 | Industrial
Dayton Street Partners (DSP) signed an unnamed logistics company to a full-building, 500,000 square foot lease at 5800 Mesa Drive in Houston. The tenant will utilize the site for transload, distribution, fleet maintenance and trailer parking. On 95 acres, the building...
by Kipp Gillian | May 9, 2022 | Office
St. John Properties, a national commercial real estate development and management group has opened up an office in Austin. The Baltimore-based company is active in nine states. St. John CEO Lawrence Maykrantz says the town has a lot of potential, “Austin has...
by Kipp Gillian | May 9, 2022 | Industrial
Mining company i-80 Gold has purchased strategic land sections adjoining the firm’s Granite Creek property in Humboldt County, Nevada for $4 million. The 2 parcels totaling 1,280 acres were acquired from Nevada Gold Mines LLC, as the company sees a significant upside...
by Kipp Gillian | May 9, 2022 | Industrial
JLL has arranged $85 million in acquisition financing on behalf of Atlanta, GA-based MDH Partners, LLC, for a 12-building industrial portfolio. JLL placed the five-year, floating-rate, interest-only, non-recourse loan with Truist. Chris Drew, Maxx Carney Jimmy Calvo,...
by Kipp Gillian | May 9, 2022 | Industrial
An affiliate of Boston-based STAG Industrial, Inc., has purchased a 164,701-square-foot, single-tenant distribution and warehouse facility fully leased to Logistics Insight Corp., in the Minneapolis suburb of Shakopee, MN. The one-building, front-load facility on 11...
by Kipp Gillian | May 9, 2022 | Affordable Housing
Could Hot Multifamily Be Headed for a Cooldown Rent growth has led to a surge in investment sales, but how long can the party last? Brandon Polakoff of Avison Young weighs in. Fairfield Properties Buys Long Island Community Jefferson at Farmingdale Plaza. Image...
by Kipp Gillian | May 9, 2022 | Affordable Housing
Willow Creek Dominium has acquired Willow Creek Apartments, a 144-unit fully affordable community in Mount Juliet, Tenn., in the Nashville area, from Greystone Property Management. The transaction was financed by Bridgewater Bank. Dominium intends to keep the property...
by Kipp Gillian | May 6, 2022 | Affordable Housing
Skyview Park Apartments. Image via Google Street View PathStone Development Corp. has completed construction of Skyview Apartments, a 157-unit senior housing community in Irondequoit, N.Y. The $44.3 million development is situated at the site of the former Irondequoit...
by Kipp Gillian | May 6, 2022 | Affordable Housing
Skyview Park Apartments. Image courtesy of PathStone Corp. PathStone Corp. developed Skyview Park Apartments within the blighted Irondequoit Mall in Irondequoit, N.Y. The endeavor was an adaptive reuse of a former Sears department store, turning the vacant big-box...
by Kipp Gillian | May 5, 2022 | Affordable Housing
The Berkley. Image courtesy of JLL Capital Markets TF Cornerstone has acquired the two-building The Berkley apartments in Brooklyn, N.Y., from a partnership between Trinity Place Holdings and Pacolet Milliken for $71 million. The property is in the borough’s...
by Kipp Gillian | May 4, 2022 | Affordable Housing
Dolores Huerta at the Placita Dolores Huerta groundbreaking event. Images by Noé MontesPlacita Dolores Huerta groundbreaking event Community Housing Opportunities Corp. has broken ground on Placita Dolores Huerta, a 110-unit affordable housing community in Coachella,...
by Kipp Gillian | May 4, 2022 | Affordable Housing
Flats on First. Image courtesy of CBRE An affiliate of Barings has acquired Flats on First, a newly constructed 136-unit, Class A multifamily property in Cambridge, Mass., from Urban Spaces for $103 million. CBRE Capital Markets’ multifamily experts Simon Butler,...
by Kipp Gillian | Apr 29, 2022 | Affordable Housing
Groundbreaking of The Hanson Place Community Plaza. Image courtesy of Hanson Place Church Support Corp. The Hanson Place Community Plaza has broken ground in the Fort Greene enclave of Brooklyn, N.Y. Hanson Place Church Support Corp., MDG Design + Construction (MDG),...
by Kipp Gillian | Apr 29, 2022 | Affordable Housing
Rendering of The Margaux at New Carrollton Metro Station. Image courtesy of Urban Atlantic Urban Atlantic Development has received $54.3 million to develop The Margaux, a 291-unit transit-oriented workforce housing community in New Carrollton, Md. EagleBank provided...
by Kipp Gillian | Apr 27, 2022 | Affordable Housing
There is a tremendous need for more affordable rental housing across the U.S., and Fannie Mae and Freddie Mac are playing an increasing role in filling the gap. READ THE DIGEST Ted Patch, executive vice president & group head of multifamily finance at Walker &...
by Kipp Gillian | Apr 27, 2022 | Hotel
Sonesta International Hotels Corporation has returned to the New York market, acquiring a majority stake in four boutique and lifestyle hotels in Manhattan for an undisclosed sum. Totaling 918 keys and located in Midtown and on the Upper East Side, the...
by Kipp Gillian | Apr 27, 2022 | Retail
Tom Thumb is standing taller today. The anchor tenant for the Meadow Central Market has been completely remodeled along with the rest of the Meadow Central Market. The grocery store is the anchor tenant for one of the oldest grocery-anchored retail centers in North...
by Kipp Gillian | Apr 27, 2022 | Hotel
Tom Thumb is standing taller today. The anchor tenant for the Meadow Central Market has been completely remodeled along with the rest of the Meadow Central Market. The grocery store is the anchor tenant for one of the oldest grocery-anchored retail centers in North...
by Kipp Gillian | Apr 27, 2022 | Retail
The gentrification of the area near the Factoria Mall in Bellevue, WA has claimed a big-box victim, as the Walmart based there has shuttered. The location had underperformed for some time, and the company decided to close its doors last week. As reported in the...
by Kipp Gillian | Apr 27, 2022 | Hotel
Dynamic City Capital (DCC) has announced the completion of construction and opening of the Element by Westin Milpitas San Jose hotel. The property is the ninth premium brand hotel that DCC has acquired or opened in the past 14 months, and the second in the Bay Area. ...
by Kipp Gillian | Apr 27, 2022 | Retail
The project will start taking shape next month, as Gulf Coast Commercial Group will kick off site-work at the 60-acre project just over 40 miles northwest of Houston. The first phase of the retail and multi-family development is expected to include three 10,000...
by Kipp Gillian | Apr 27, 2022 | Retail
Coldwell Banker Commercial has completed the $2.4-million sale of a multitenant retail center consisting of two adjacent buildings on Boylston Street in Newton, MA. Todd Glaskin with Coldwell Banker Commercial Realty represented the seller, a local family trust, in...
by Kipp Gillian | Apr 26, 2022 | Retail
A Trader Joe’s and Sprouts Farmers Market have lived in harmony in a popular retail center for over 25 years. The owner of the Mesa Shores, JLL Capital Markets, announced yesterday that it sold the popular 110,917 square foot center. Mesa Shores sits on 13.5...
by Kipp Gillian | Apr 26, 2022 | Retail
A Chicago-based investment partnership has sold a Naperville shopping center for a price in excess of $52 million, according to Crain’s Chicago Business. Northpond Partners sold Naperville Plaza, which is a 115,000-square-foot property which Crain’s said lies on the...
by Kipp Gillian | Apr 26, 2022 | Retail
Kidder Mathews has arranged the sale of The Shops at Burlington in Burlington, WA for $9.5 million to local investor Burlington Investment Properties LLC. The one-time primary outlet mall in Washington will likely become a multifamily development after four of the...
